Permissioned vs Permissionless - Reading Assignment

Blockchain Business Course
#781

1)Blockchain networks allows increased trust between parties,
Instant access to relevant and authentic information.
Provide a historical record of all transactions alongside the means to record these entries.

  1. Anyone can join and be a node, authroize transactions and create transactions.

3)Cardano, Ethereum and bitcoin

4)Only participants that are authorized

5)they provide control over the ledger; are not publically accessible, may not require any financial transaction components, can be easier to scale and maintain.

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#782
  1. What benefits do blockchain provide in business-to-business collaborations?

Increased trust between parties, and instant access to relevant, authentic information.

  1. What property of a blockchain does the name ā€œPermissionlessā€ refer to?

Permisionless blockchain networks power up most of the marketā€™s digital currencies. Anyone can get involved.

  1. What are 3 examples of permissionless blockchains?
    Bitcoin
    Eth
    EOS

  2. Who are allowed to join a permissioned blockchain network?

specific members of consortiums or companies, and members need to opt-in for the creation of such a network.

  1. Why do you think permissioned blockchain networks are preferred by many companies?

Because only approved people or computer entities have the possibility of running nodes on the network, validating transaction blocks, issuing transactions, executing smart contracts, or reading the transaction history.

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#783

  1. What benefits do blockchain provide in business-to-business collaborations?
    In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information. Blockchains provide a historical record of all transactions, alongside the means to record these entries which are immutable.

  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    It refers to allowing everyone to have access to the blockchain without the need of a third party or an intermediary.

  3. What are 3 examples of permissionless blockchains?
    BTC, EOS, ETH.

  4. Who are allowed to join a permissioned blockchain network?
    Only those who are granted access or rights to join the network by an organization or centralized authority.

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Private blockchains which are better for internal business operations thus allowing the central governing entity to decide on all problems pertaining to how the network is created, its protocols and what users can or canā€™t do.

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#784
  1. What benefits do blockchain provide in business-to-business collaborations?
    It eliminates the middle man and brings autonomy/self custody of their finances
  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    Open to everyone, public blockchain.
  3. What are 3 examples of permissionless blockchains?
    Binance chain, Ethereum, Bitcoin
  4. Who are allowed to join a permissioned blockchain network?
    Partners and authorized members.
  5. Why do you think permissioned blockchain networks are preferred by many companies?
    Because it costs way less.
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#785
  1. Some of the benefits that blockchain provides in business-to-business collaborations are : transparency, trust between parties due to elimination of third party involvement, data security and integrity, non changeable encryption, easy accessible, publicly readable consensus algorithms and history record ,traceability, authenticity, efficiency, speed, anticorruptionā€¦

2.ā€œPermissionlessā€ blockchain refers to decentralised publicly open trustless blockchain that does not require authorisation for the node to take part in participation to the network its consensus incentives and data validation, has no gatekeeper, no censorship.

  1. Examples of ā€œpermissionlessā€ blockchains
    BTC, BCH, ETH, LTC, EOS, ADA, DOGE, SOL, XMR, ZEC

  2. ā€œPermissionedā€ blockchain network is closed blockchain network not publicly accessible that can be accessed by user nodes internally with appropriate permission only. Users must authenticate themselves using certificates or other digital methods to access control layer. Good example use-case of permissioned blockchain network is XRP, popular permissioned blockchains Quorum, R3Corda, Hyperledger Fabric.

  3. Permissioned blockchain networks are preferred by many companies because of the high level of privacy and security for sensitive data they provide. Without verified set of credentials compliancy access is not granted to the information. It is cost effective, no mining or cryptocurrencies are needed.It is more certain in following current world laws and regulations.

#786

1. What benefits do blockchain provide in business-to-business collaborations?

- increased trust between parties -instant access to relevant, authentic information.
-provide a historical record of all transactions, alongside the means to record these entries.

2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?

Public and Decentralized: meaning that no central entity has the authority to edit the ledger, shut down the network, or change its protocols. Many permisionless networks are based on consensus protocols.

3. What are 3 examples of permissionless blockchains?

Bitcoin
Ethereum
Dogecoin

4. Who are allowed to join a permissioned blockchain network?

Only those given permission governance is decided by members of the business network.

5. Why do you think permissioned blockchain networks are preferred by many companies?

Because businesses want control.
Allow or give permission to only those they trust into the network.

The central governing entity or consortium of entities decide on all problems pertaining to how the network is created, its protocols and what users can do.

Allows businessā€™s to leverage the power of the network for their own, internal business operations. Allows businesses to
securely record transactions, and exchange information between one another.

Only approved people or computer entities have the possibility of running nodes on the network, validating transaction blocks, issuing transactions, executing smart contracts, or reading the transaction history.

1 Like
#787
  1. Allows for increased trust between parties, allows for instant access to relevant, authentic info
  2. The blockchain is public and anyone can use it
  3. Ethereum, Celo and Bitcoin
  4. Only approved people
  5. So as not to expose company information or introduce unnecessary risks of hacks
#788

1.) What benefits do blockchain provide in business-to-business collaborations? They allow for increased trust between parties, and instant access relevant, authentic information.

2.) What property of a blockchain does the name ā€œPermissionlessā€ refer to? That any one can create personal address and begin interacting with the network, submit transactions, and deploy and use smart contracts.

3.) What are 3 examples of permissionless blockchains? Bitcoin, Ethereum, Polygon.

4.) Who are allowed to join a permissioned blockchain network? Members of the organization vetted by organization administration.

5.) Why do you think permissioned blockchain networks are preferred by many companies? Financial privacy. Intellectual property control. Data control.

#789 
1.	Blockchain provides increased trust between parties and instant access to relevant, authentic information in business-to-business collaborations.
2.	ā€œPermissionlessā€ in blockchain refers to the property of being open to anyone, allowing every user to create a personal address and interact with the network.
3.	Three examples of permissionless blockchains are Bitcoin, Ethereum, and other digital currencies that power most of the market.
4.	Permissioned blockchain networks are joined by specific members of consortiums or companies, and only approved individuals or entities can run nodes, validate transactions, issue transactions, execute smart contracts, or read the transaction history.
5.	Permissioned blockchain networks are preferred by many companies for their suitability in internal business operations, allowing centralized organizations to leverage the network for their own needs, maintain controlled transparency, and customize governance based on business dynamics.
#790

  1. What benefits do blockchain provide in business-to-business collaborations?
    Transparency
    Cost efficiency if cut out the middle man
    Tampering resistance

  2. What property of a blockchain does the name ā€œPermissionlessā€ refer to?
    Means anyone can read and write on it. it is public

  3. What are 3 examples of permissionless blockchains?
    ETH BTC and LTC

  4. Who are allowed to join a permissioned blockchain network?
    network participants, selected by a governing body

  5. Why do you think permissioned blockchain networks are preferred by many companies?
    They can control what happens on it and they can make the transactions and the ledger as a whole private.
    ā€œThey scale better, are easier to maintain, change and update. Security is provided by selecting participants rather than employing consensus algorithms that can require resources to operate. An incentive program is not required to approve transactions. The block chain can be tailored to a companies specific needs and is therefore more efficient and streamlined.ā€ from JDC

#791

1-In business-to-business scenarios, blockchain networks allow for increased trust between parties, and instant access to relevant, authentic information. This is so thanks to the fact that blockchains provide a historical record of all transactions, alongside the means to record these entries.

2- Public blockchain where every user can initiate a transaction and see the transaction history.

ā€¢ Driven by network consensus

ā€¢ No permission

3- Bitcoin, Eitherum, EOS

4- only approved people or computer entities have the possibility of running nodes on the network, validating transaction blocks, issuing transactions, executing smart contracts, or reading the transaction history.

5- better scalability, easier to maintain, change and update. Security is provided by selecting participants rather than employing consensus algorithms that can require resources to operate. An incentive program is not required to approve transactions. The block chain can be tailored to a companies specific needs and is therefore more efficient and streamlined.